Homework Answers
Ans:
|
Particulars |
|
Amount ($) |
|
Materials used in product |
129,100 |
|
|
Labor costs of assembly-line workers |
111,300 |
|
|
Factory overheads |
||
|
Depreciation on plant |
64,600 |
|
|
Property taxes on plant |
16,000 |
|
|
Factory supplies used |
28,700 |
109,300 |
|
Add: Beginning Work in progress at January 1st |
14,500 |
|
|
Less: Ending Work in progress at December 31st |
(16,800) |
|
|
Cost of goods manufactured |
$347,400 |
|
|
Cost of goods sold |
||
|
Particulars |
Amount ($) |
|
|
Beginning finished goods |
69,500 |
|
|
Cost of goods manufactured |
347,400 |
|
|
Less : Ending finished goods |
(46,000) |
|
|
Cost of goods sold |
$ 370,900 |
|
Add Answer to:
rcise 14-9 Determine the missing amounts. rcise 14-1 Total Work Work in Process January 1) (December...
(b) Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process...
(b) Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process (December 31) $86,000 $ Cost of Goods Manufactured = $124,000 $98,600 $323,900 $300,000 $ $314,000 $465,000 $ $716,000 Save for Later
Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process (December...
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$124,000
$84,500
$
(2)
$297,000
$
$99,300
$322,700
(3)
$314,000
$464,000
$
$718,000
Brief Exercise 14-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three...
Brief Exercise 14-10
Presented below are incomplete manufacturing cost data.
Determine the missing amounts for three different situations.
Direct
Materials
Used
Direct
Labor
Used
Factory
Overhead
Total
Manufacturing
Costs
(1)
$41,900
$62,500
$52,900
$
(2)
$
$76,000
$144,000
$300,000
(3)
$57,400
$
$115,000
$312,000
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$122,000
$84,300
$
(2)
$300,000
$
$98,500
$324,500
(3)
$312,000
$467,000
$
$719,000
Brief Exercise 1-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three...
Brief Exercise 1-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Materials Used Direct Labor Used Total Manufacturing Costs $41,500 (1) (2) s (3) $65,000 $76,000 Factory Overhead $52,200 $143,000 $297,000 $59,000 $ $113,000 $311,000 LINK TO TEXT Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) $124,000 Cost of Goods Manufactured Work in Process (December 31) $85,900 $98,700 $323,800 $297,000 $ $311,000 $465,000 $719,000
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as...
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter Off Company On Company 319,410 x $ 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 $ 173,240 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory,...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done elds and then continue to the next question. 12. QRS Manufacturing Company has the following data for 2019 (amounts in milions): Click the icon to view the information) Prepare the schedule of cost of goods manufactured...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw materials inventory $26,010 Work in process inventory 18,560 Finished goods inventory 28,900 Materials purchased $155,770 Direct labor 224,700 Manufacturing overhead 182,460 Sales revenue 905,040 December 31, 2020 $34,130 19,620 24,050 Your answer is partially correct. Try again. Compute cost of goods manufactured. Alkman Company Cost of Goods Manufactured Schedule 18560 work-in -Process Inventory, 1/2 "Direct Materials Raw Materials Inventory, 1/1 Materials Purchased Materials Available...
1. Determine the amount of the missing items, identifying them by letter. Enter all amounts as...
1. Determine the amount of the missing items, identifying them
by letter. Enter all amounts as positive numbers.
2. Prepare on Company's statement of cost of goods manufactured
for December .
3. Prepare on Company's income statement for December.
Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December. Off Materials inventory, December 1 Materials inventory, December...
January 1, 2018 December 31, 2018 Inventories:
January 1, 2018 December 31, 2018 Inventories: Raw materials $15,500 $11,000 Work in process 22,000 31,000 Finished Goods 8,500 12,500 Costs incurred: Raw materials purchases $72,000 Direct Labor 42,000 Property Taxes - Factory 24,000 Office rent 8,000 Factory utilities 4,000 Indirect materials 7,000 Indirect labor 5,000 Prepare a schedule of cost of goods manufactured for the year ended December 31, 2018. Prepare a schedule of cost of...
(b) Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) Work in Process (December 31) $86,000 $ Cost of Goods Manufactured = $124,000 $98,600 $323,900 $300,000 $ $314,000 $465,000 $ $716,000 Save for Later
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$124,000
$84,500
$
(2)
$297,000
$
$99,300
$322,700
(3)
$314,000
$464,000
$
$718,000
Brief Exercise 14-10
Presented below are incomplete manufacturing cost data.
Determine the missing amounts for three different situations.
Direct
Materials
Used
Direct
Labor
Used
Factory
Overhead
Total
Manufacturing
Costs
(1)
$41,900
$62,500
$52,900
$
(2)
$
$76,000
$144,000
$300,000
(3)
$57,400
$
$115,000
$312,000
Determine the missing amounts.
Total
Manufacturing
Costs
Work
in Process
(January 1)
Work
in Process
(December 31)
Cost of
Goods
Manufactured
(1)
$
$122,000
$84,300
$
(2)
$300,000
$
$98,500
$324,500
(3)
$312,000
$467,000
$
$719,000
Brief Exercise 1-10 Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. Direct Materials Used Direct Labor Used Total Manufacturing Costs $41,500 (1) (2) s (3) $65,000 $76,000 Factory Overhead $52,200 $143,000 $297,000 $59,000 $ $113,000 $311,000 LINK TO TEXT Determine the missing amounts. Total Manufacturing Costs Work in Process (January 1) $124,000 Cost of Goods Manufactured Work in Process (December 31) $85,900 $98,700 $323,800 $297,000 $ $311,000 $465,000 $719,000
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter Off Company On Company 319,410 x $ 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 $ 173,240 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done elds and then continue to the next question. 12. QRS Manufacturing Company has the following data for 2019 (amounts in milions): Click the icon to view the information) Prepare the schedule of cost of goods manufactured...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw materials inventory $26,010 Work in process inventory 18,560 Finished goods inventory 28,900 Materials purchased $155,770 Direct labor 224,700 Manufacturing overhead 182,460 Sales revenue 905,040 December 31, 2020 $34,130 19,620 24,050 Your answer is partially correct. Try again. Compute cost of goods manufactured. Alkman Company Cost of Goods Manufactured Schedule 18560 work-in -Process Inventory, 1/2 "Direct Materials Raw Materials Inventory, 1/1 Materials Purchased Materials Available...
1. Determine the amount of the missing items, identifying them
by letter. Enter all amounts as positive numbers.
2. Prepare on Company's statement of cost of goods manufactured
for December .
3. Prepare on Company's income statement for December.
Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December. Off Materials inventory, December 1 Materials inventory, December...
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